Cisco Systems’ (CSCO) In-Line Rating Reaffirmed at Evercore ISI

Cisco Systems (NASDAQ:CSCO)‘s stock had its “in-line” rating restated by Evercore ISI in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $72.00 price objective on the network equipment provider’s stock. Evercore ISI’s target price would suggest a potential upside of 4.82% from the stock’s previous close.

CSCO has been the subject of several other reports. Morgan Stanley lifted their target price on Cisco Systems from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, July 18th. Rosenblatt Securities lifted their target price on Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Wells Fargo & Company raised Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, CICC Research initiated coverage on Cisco Systems in a research note on Monday, July 14th. They issued an “outperform” rating and a $78.00 target price for the company. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $70.35.

Cisco Systems Trading Up 0.6%

CSCO stock opened at $68.69 on Monday. The business has a fifty day moving average price of $66.43 and a 200 day moving average price of $62.46. Cisco Systems has a fifty-two week low of $44.50 and a fifty-two week high of $69.78. The stock has a market capitalization of $272.01 billion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 4.11 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the firm posted $0.88 EPS. Analysts expect that Cisco Systems will post 3.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jeetendra I. Patel sold 899 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the sale, the insider directly owned 255,377 shares in the company, valued at $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of the business’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the sale, the executive vice president owned 177,027 shares in the company, valued at approximately $11,331,498.27. This trade represents a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company’s stock.

Institutional Trading of Cisco Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Financial Connections Group Inc. raised its holdings in Cisco Systems by 89.4% during the second quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock worth $28,000 after acquiring an additional 193 shares in the last quarter. Navigoe LLC bought a new stake in Cisco Systems during the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the fourth quarter worth about $26,000. Brown Shipley& Co Ltd bought a new stake in Cisco Systems during the second quarter worth about $32,000. Finally, JDM Financial Group LLC raised its holdings in Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.